All Forum Posts by: Account Closed

I work with @Lisa Bujulian! I just talked to her and she said she'd be interested!

@Randy Stout

Welcome to Bigger Pockets!

As some people have said above, anywhere along the I35 corridor is most likely going to be a solid investment. I think knowing the number is solid and speculative investing can be risky. Look, listen, and read you'll find yourself making a solid investment. If you're like me and prefer a data-based approach, Texas A&M's real estate center website is a great centralized, objective resource to look at some of the market trends in the Austin-Round Rock MSA. 

Here is their website:

https://www.recenter.tamu.edu/

This is their housing activity page where you can dive into specific areas  a little more and how the market has changed over the years:

https://www.recenter.tamu.edu/data/housing-activit...

I also work with a real estate investment firm here in Austin, so if you have any questions feel free to reach out!

@Zach Jackovich

Good luck on closing your first deal sometime soon. Good on you for reaching out and getting started on real estate early!

To answer your question, you have to know your market. In Austin right now, I'd say our sweet spot is somewhere between $180k-$250k to acquire properties. But, if I were to drive an hour North or South, I could find properties from $30k-$50k pretty easily. If you have MLS access cross reference that with reliable real estate data (news articles, studies, government agencies) to find where the hot areas are.

I'd say it all comes down to knowing your market and your audience. Once you have that figured out, you'll do great! Good luck!

@Melanie Campbell

I think that Rocky's advice is perfect. Austin has a great Meetup community and it's a great way to find and meet investors who are looking for help with renovations, construction, or some handyman fixes.

I would also recommend you have some sort of portfolio flyer or website to show some of the work you've done. You don't necessarily have to do this, but I find that it lends to credibility and professionalism when you're not scrolling through your phone picture to find pictures of the work you've done. A Squarespace website is quick, easy, and looks good if you want to try that. I just tend to be a bit guarded with new/untested contractors and it's always nice to see some of the work they've done.

Best of luck!

@Charlie Nghiem

I think that @Brian Adams @Account Closed all make great points. I also think that their working in the area might give them some extra credibility as well. I grew up in Harker Heights and my family has always managed a small portfolio of real estate investments in the area (Cove, Killeen, Heights, and Belton). I currently work with investors in Austin and I always like to recommend the Killeen area as a good opportunity to start investing at some lower price points. 

HOWEVER, to anyone looking to branch out into the area, I would recommend reaching out to someone who works in the local area; possibly one of the people I've tagged above. The Killeen market can be great for investments, but a lot of the "great" looking deals are in parts of town that I couldn't recommend investing in. Killeen is an incredibly unique market where you'll need some local insight and someone who knows the area, but with that insight, you can surely make sound and profitable investments.

@Ying Ding

I come across the occasional SFR that is sub-$200K. But, in Austin, it is VERY tough to find something that follows the 1% rule. A lot of what we have is closer to 0.7%-0.9% depending on the house, the area, etc.. I think a lot of investors in Austin are still purchasing according to speculative appreciation. You might not be seeing them because a lot of them are found quickly and sold off-market to investors like yourself.

If you're looking to branch out into the Austin market, feel free to reach out to me with any questions you might have or any insight into areas/properties!

I'd like to stand behind @Dan Burstain in supporting the Austin market. In the last five years alone the market has been booming, and while the price of entry is higher than many areas, I think that if you're willing to sit on the property for a few months, a year, or a few years you would see great returns.

A lot of big tech companies have been coming to Austin, it's culture of supporting small business has been great for startups, I read recently that they were had been polling for a professional sports team, and last, the prices of properties very near to some of Austin's biggest attractions (Downtown, the Domain, the Greenbelt, the lake, Circuit of the Americas) are still affordable. There's also a vibrant food, music, and arts scene.

The joke nowadays is that no one in Austin is actually from Austin, and I think that there will continue to be a large influx of young, skilled workers that will drive prices around these areas up. I may be favor Austin a bit because I grew up in the area, but if you look at some of the Economic indicators, I think that the next 20 years will be huge for Austin!

@Ross Ellington

I think that @David Ivy and @Oren K. both make good points. The metrics in the Austin market are a little bit funky. You might find something that meets the 1% rule in the Austin MMA, but it will most likely be on the outskirts and it will have to be bought "as is". A lot of Austin investors are might be forecasting potential appreciation into their returns, but, like Oren said, the margin for error ("risk") goes up with long term speculation.

I think that Austin is slowing down a bit, but it's definitely still hot, and people are willing to adjust their own investment criteria in hopes of the capitalizing on appreciation further down the line.

It's a bit of a weird market, but there are still deals to be found! Feel free to reach out if you have any questions!

Welcome to Bigger Pockets @Troupe Brewer 

From my perspective, the podcasts have been great, and the community on here has been helpful and informative.

Regarding rental investments in the Lampasas/Cove/Killeen area, I think that it depends on what kind of rental you want. I grew up in the Harker Heights/Killeen area and my parents still live there and I think that Killeen and Harker Heights are going to be the main hubs for appealing to the military crowd; they can be consistent long-term renters depending on their deployments, rank, etc.. Harker Heights is going to be a little nicer, but I think Killeen will have better price points and cash flow according to purchase price. There are some parts of Killeen that I wouldn't recommend buying in just because of the area. I also don't think many soldiers would be commuting from Lampasas for early morning PT. BUT, Lampasas could be a good place for people looking to commute to jobs in Cedar Park or Leander.

Belton has the University of Mary Hardin-Baylor which I think is great for the city, and Temple is home to Scott & White as well as McClane's. Jarrel and Salado to the north and Kyle and Buda to the south could also be good opportunities for investments at prices lower than those in Austin.

I hope that I could provide a little insight! 

@James Stevens

I'd be interested in a meetup in the Temple/Belton area. I grew up in Harker Heights and work in Austin, but I'm looking to branch out into the Killeen/Temple MMA and I'd be up for a meeting.

Keep me updated on anything you have set up!